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| DELAWARE                        | 77-0313235          |
|---------------------------------|---------------------|
| (State or other jurisdiction of | (I.R.S. Employer    |
| incorporation or organization)  | Identification No.) |

| 550 S. Hope Street, Suite 2850           |       |
|------------------------------------------|------------|
| Los Angeles, CA                          | 90071      |
| (Address of principal executive offices) | (Zip Code) |

| Title of Each Class                     | Name of Each Exchange on Which Registered |
|-----------------------------------------|-------------------------------------------|
| Common Stock, par value $0.01 per share | The NASDAQ Stock Market LLC               |

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CONTENTS

|     |                                                                                           |   |
|----------|------------------------------------------------------------------------------------------------|--------|
| PART III |                                                                                           |   |
|     |                                                                                           |   |
| Item 10. | Directors, Executive Officers and Corporate Governance                                         | 1      |
|     |                                                                                           |   |
| Item 11. | Executive Compensation                                                                         | 5      |
|     |                                                                                           |   |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 21     |
|     |                                                                                           |   |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence                      | 26     |
|     |                                                                                           |   |
| Item 14. | Principal Accounting Fees and Services                                                         | 28     |
|     |                                                                                           |   |
| PART IV  |                                                                                           |   |
|     |                                                                                           |   |
| Item 15. | Exhibits, Financial Statements and Schedules                                                   | 29     |
|     |                                                                                           |   |

| SIGNATURES    | 30     |
|---------------|--------|
|          |   |
| EXHIBIT INDEX | 31     |
|          |   |

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ITEM 

| Name                 | Age    | Position                                        |
|----------------------|--------|-------------------------------------------------|
|                 |   |                                            |
| Keith Brackpool | 55     | Chairman of the Board                           |
|                 |   |                                            |
| Stephen E. Courter   | 58     | Director                                        |
|                 |   |                                            |
| Geoffrey Grant       | 52     | Director                                        |
|                 |   |                                            |
| Winston H. Hickox    | 70     | Director                                        |
|                 |   |                                            |
| Murray H. Hutchison  | 74     | Director                                        |
|                 |   |                                            |
| Raymond J. Pacini    | 57     | Director                                        |
|                 |   |                                            |
| Bryant R. Riley      | 46     | Director                                        |
|                 |   |                                            |
| Timothy J. Shaheen   | 53     | Director, Chief Financial Officer and Secretary |
|                 |   |                                            |
| Scott S. Slater      | 55     | Director, President and Chief Executive Officer |
|                 |   |                                            |

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ITEM 

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| ·    | Keith Brackpool, Chief Executive Officer and Chairman |
|--------------------------|-------------------------------------------------------|

| ·    | Scott Slater, President and General Counsel |
|--------------------------|---------------------------------------------|

| ·    | Timothy Shaheen, Chief Financial Officer |
|--------------------------|------------------------------------------|

| ·    | Evaluating the performance of our executive officers; |
|--------------------------|-------------------------------------------------------|

| ·    | Reviewing and approving the total compensation and benefits of our executive officers, including cash compensation and long-term incentive compensation; and |
|--------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·    | Reviewing and amending guidelines and standards regarding our compensation practices and philosophy. |
|--------------------------|------------------------------------------------------------------------------------------------------|

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| ·    | CASH SALARY.   Base cash salaries for our named executives are determined by the Compensation Committee depending on a variety of factors including the scope of their responsibilities, their leadership skills and values, their performance and length of service.  Cash salaries for our named executive officers are intended to create a minimum level of compensation that is competitive with other companies deemed comparable, depending on the prior experience and position of the executive. Decisions regarding salary increases are affected by the named executive’s current salary and the amounts paid to their peers within and outside the Company.  |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·    | PERFORMANCE BASED CASH AWARDS.  The Compensation Committee believes that it is important to offer cash incentives to executives for the achievement of specified objectives that yield increased value for stockholders and will utilize performance based cash awards from time to time to provide additional incentives.  |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·    | LONG-TERM INCENTIVES.  The primary form of incentive compensation that we offer to our executives consists of long-term incentives in the form of equity awards. The use of such long-term incentives is intended to focus and align goals of Company executives with those of stockholders and creates a direct interest in the results of operations, long-term performance and achievement of the Company’s long-term goals.  |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·    | BENEFITS. The Compensation Committee also incorporates retirement, insurance, termination and severance benefits in the compensation program for executive officers.  These benefits are offered to retain top executives, maintain their health and wellness and remain competitive in the industry.  The retirement and insurance benefits are consistent with those benefits offered more broadly to the Company’s employees. |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   AV Homes, Inc.                |
|--------------------------------------------------|
| ·   HomeFed Corporation           |
| ·   Limoneira Company             |
| ·   PICO Holdings, Inc.           |
| ·   Tejon Ranch Co.               |
| ·   Thomas Properties Group, Inc. |

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| ·    | Completion and approval of the Environmental Impact Report for the Water Project by the Santa Margarita Water District; |
|---------------------|-------------------------------------------------------------------------------------------------------------------------|

| ·    | Completion and approval of the Groundwater Management, Monitoring and Mitigation Plan by the County of San Bernardino; |
|---------------------|------------------------------------------------------------------------------------------------------------------------|

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| ·    | Further the development of other Company-owned real estate and water resources; and |
|---------------------|-------------------------------------------------------------------------------------|

| ·    | Obtain the financing necessary to continue to invest in the further development of our water related assets. |
|---------------------|--------------------------------------------------------------------------------------------------------------|

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|   | THE COMPENSATION COMMITTEE                                    |
|--------|--------------------------------------------------------------------|
|   |                                                               |
|   | Murray H. Hutchison, Chairman                            |
|   | Stephen E. CourterGeoffrey GrantWinston H. HickoxRaymond J. Pacini |

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| Name and Principal Position(1)                                                         | Year                     | Salary($)                   | Bonus($)        |  StockAwards(2)($)     | OptionAwards(2)($)                                          | All OtherCompensation(3)($)                                                                       | Total($)                                                                 |
|----------------------------------------------------------------------------------------|--------------------------|-----------------------------|-----------------|-----------------------------|-------------------------------------------------------------|--------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------|
|  Keith Brackpool     Chairman and Principal Executive Officer |  201220112010  |  400,000400,000400,000 |  300,000-- |  -727,000573,750  |    -   260,9441,304,736  |       49,806    54,402    46,155 |     749,8061,442,3462,324,641                        |
| Timothy J. Shaheen     Principal Financial Officer and Secretary   | 201220112010        | 325,714300,000300,000  | 200,000--  | -290,800202,500        | -  130,472  652,368                |     14,718    12,963    20,400             |     540,432    734,235 1,175,268 |
| Scott Slater     President(4)                                      | 201220112010             | ---                         | ---             | ---                         |    212,114   600,998 -   | ---                                                                                                    |    212,114   600,998   -                   |

| (1)   | Theexecutive officers listed in the Summary Compensation Table above were our only executive officers during the year ended December 31, 2012. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | This column discloses the dollar amount of compensation cost recognized for the respective fiscal year in accordance with FAS123R.  The assumptions used for determining the value of stock awards and options are set forth in the relevant Cadiz Inc. Annual Report to Stockholders in Note 10 to the Consolidated Financial Statements, ”Stock-Based Compensation Plans and Warrants”. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | All Other Compensation includes a 401k match that is generally available to all employees.  Messrs. Brackpool and Shaheen received $15,577 and $12,856, respectively, in 401k matching contributions in 2012.  In 2012, Mr. Brackpool’s Other Compensation also includes $32,024 of company paid expenses related to a leased automobile and $2,205 related to life insurance.  Mr. Shaheen’s Other Compensation for 2012 includes $1,862 in a car allowance.  The value of perquisites for each of the other executive officers was less than $10,000, and thus no amount relating to perquisites is included in the Summary Compensation Table. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4)   | Mr. Slater was appointed President of the Company on April 12, 2011, replacing Mr. Brackpool in this position. Effective February 1, 2013, Mr. Slater assumed the additional role of Chief Executive Officer, replacing Mr. Brackpool in this position. Mr. Brackpool remains as Chairman of the Board of Directors. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                  |         |                                                  |         |                                                    |         |                         |         |                      |         |                                           |         |                                            |
|-----------------------|--------------|-------------------------------------------------------|--------------|---------------------------------------------------------|--------------|------------------------------|--------------|---------------------------|--------------|------------------------------------------------|--------------|-------------------------------------------------|
|                  |    | Option Awards                                         |    | Stock Awards                                            |
| Name             |    | SecuritiesUnderlyingUnexercisedOptions (#)Exercisable |    | SecuritiesUnderlyingUnexercisedOptions (#)Unexercisable |    | OptionExercisePrice ($) |    | OptionExpirationDate      |    | Shares ofStock ThatHave NotVested(#) |    | MarketValue ofSharesThat HaveNotVested ($) |
|  Keith Brackpool |    |  100,000(1)200,000(2)                            |    |  --                                                |    | 12.0011.50                   |    |   5/4/151/14/20 |    |  --                                       |    |  --                                        |
|                  |         |                                                  |         |                                                    |         |                         |
| Timothy J. Shaheen    |         |    100,00(2)                                |         |    -                                     |         |  11.50                  |         |  1/14/20             |         |      -                |         |  -                                         |
|                  |         |                                                  |         |                                                    |         |                         |
| Scott Slater          |    |   66,667(2)                                      |    | 33,333(2)                                               |    | 12.51                        |    |  4/12/21             |    | -                                              |    | -                                               |

| (1)   | These options were granted by the Company in 2005 under the Company’s then existing Management Incentive Plan.  |
|-----------------|----------------------------------------------------------------------------------------------------------------------------|

| (2)   | Options granted by the Company under the 2009 Equity Incentive Plan.  |
|-----------------|----------------------------------------------------------------------------|

|                     |         | Option Awards                       |         | Stock Awards                                 |
|--------------------------|--------------|-------------------------------------|--------------|----------------------------------------------|
| Name                     |    | Shares Acquiredon Exercise (#) |    | Value Realizedon Exercise ($) |    | Shares Acquiredon Vesting (#) |    | Value Realizedon Vesting ($) |
|  Keith Brackpool    |    | —                             |    | —                                      |    | — |    | — |
|  Timothy J. Shaheen |         | —                             |         | —                                      |   | — |   | — |
|  Scott Slater       |    | —                             |    | —                                      |    | — |    | — |

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| Name               |   | Benefit                       |   | Termination without Cause orResignation upon Company Material Breach ($) |    |   | Death orDisability ($) |   |    | Termination Following Changeof Control ($) |   |
|--------------------|--------|-------------------------------|--------|----------------------------------------------------------------------------------------------|---------|--------|-----------------------------|--------|---------|-------------------------------------------------|--------|
|               |   |                          |   |                                                                                         |    |   |                        |   |    |                                            |   |
| Keith Brackpool    |   | Salary                        |   |                                                                                         | 400,000 |   |                        |   | 800,000 |                                            |   |   | 800,000 |   |
|               |   | Bonus                         |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   | Equity Acceleration      |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   | Benefits Continuation(1) |   |                                                                                         | 81,002  |   |                        |   | -       |                                            |   |   | 162,004 |   |
|               |   | Total Value                   |   |                                                                                         | 481,002 |   |                        |   | 800,000 |                                            |   |   | 962,004 |   |
|               |   |                          |   |                                                                                         |    |   |                        |   |    |                                            |   |   |   |   |
| Timothy J. Shaheen |   | Salary                        |   |                                                                                         | 165,000 |   |                        |   | 165,000 |                                            |   |   | 330,000 |   |
|               |   | Bonus                         |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   | Equity Acceleration      |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   | Benefits Continuation(1) |   |                                                                                         | 22,339  |   |                        |   | -       |                                            |   |   | 44,677 |   |
|               |   | Total Value                   |   |                                                                                         | 187,339 |   |                        |   | 165,000 |                                            |   |   | 374,677 |   |
|               |   |                          |   |                                                                                         |    |   |                        |   |    |                                            |   |   |   |   |
| Scott Slater       |   | Salary                        |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   | Bonus                         |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   | Equity Acceleration           |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   | Benefits Continuation(1) |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   | Total Value                   |   |                                                                                         | -       |   |                        |   | -       |                                            |   |   | - |   |
|               |   |                          |   |                                                                                         |    |   |                        |   |    |                                            |   |   |   |   |

| (1)   | The benefits continuation amounts include car allowances, 401(k) matching benefits, life insurance and paid vacation.  |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------|

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|                |   |                                                    |   |                    |   |                     |   |           |   |
|---------------------|--------|---------------------------------------------------------|--------|-------------------------|--------|--------------------------|--------|----------------|--------|
| Name                |   | Fees Earnedor Paid in Cash ($) |   | StockAwards ($)(1) |   | OptionAwards ($)(2) |   | Total ($) |   |
| Stephen E. Courter  |   | 30,000                                                  |   | 19,892                  |   | -                        |   | 49,892         |   |
| Geoffrey Grant      |   | 30,000                                                  |   | 19,892                  |   | -                        |   | 49,892         |   |
| Winston H. Hickox   |   | 30,000                                                  |   | 19,892                  |   | -                        |   | 49,892         |   |
| Murray H. Hutchison |   | 30,000                                                  |   | 19,892                  |   | -                        |   | 49,892         |   |
| Raymond J. Pacini   |   | 30,000                                                  |   | 19,892                  |   | -                        |   | 49,892         |   |

| (1)    | This column discloses the dollar amount of compensation cost recognized in 2012 based on the fair value at grant date in accordance with FASB ASC Topic 718. These awards were valued at the market value of the underlying stock on the date of grant in accordance with FASB ASC Topic 718. |
|-----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)    | Directors of the Company do not receive stock option awards. |
|-----------------------|--------------------------------------------------------------|

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ITEM 

|  Name and Address                                                                                                                                                                                                | Amount and Nature ofBeneficial Ownership | Percentof Class         |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------|-------------------------|
|                                                                                                                                                                                                                  |                                     |                    |
| LC Capital Master FundLC Capital Partners LPLC Capital Advisors LLCLC Capital International LLCSteven LampeRichard F. Conwayc/o Lampe, Conway & Co., LLC680 Fifth Avenue, 12th FloorNew York, New York 10019-5429 | 3,635,000(1)                        | 19.99%             |
|                                                                                                                                                                                                                  |                                     |                    |
| Altima Partners LLPMark DoneganDominic RedfernAltima Partners LLP11 Slingsby Place, 2nd FloorSt Martin's CourtyardLondon   WC2E 9AB                                                                         | 1,561,332(2)                             | 9.88%                   |
|                                                                                                                                                                                                                  |                                     |                    |
| Zesiger Capital Group LLC460 Park Avenue, 22nd FloorNew York, New York 10022                                                                                                                                          | 1,544,110(3)                             | 9.99%                   |
|                                                                                                                                                                                                                  |                                     |                    |
| Water Asset Management LLC509 Madison AvenueSuite 804New York, NY 10022                                                                                                                                               | 1,524,548(4)                             | 9.69%                   |
|                                                                                                                                                                                                                  |                                     |                    |
| Nokomis Capital LLC2305 Cedar Springs Road, Suite 420Dallas, TX 75201                                                                                                                                                 | 1,266,916(5)                             | 7.6%                    |
|                                                                                                                                                                                                                  |                                     |                    |
| Odey Asset Management Group Ltd.12 Upper Grosvenor St.London, UK W1K2ND                                                                                                                                               | 1,000,000(6)                             | 6.47%                   |
|                                                                                                                                                                                                                  |                                     |                    |
| Persistency Private Equity LimitedCamomille International Pte Singapore57/63 Line Wall RoadGibraltar                                                                                                                  | 960,587(7)                          | 6.22%    |

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| Robeco Investment Management, Inc.One Beacon StreetBoston, MA 02108             | 869,138(8)                    | 5.62%  |
|---------------------------------------------------------------------------------|-------------------------------|--------|
|                                                                            |                          |   |
| Frost Gamma Investment Trust4400 Biscayne BlvdMiami, FL 33137                   | 788,829(9)                    | 5.10%  |
|                                                                            |                          |   |
| Keith Brackpoolc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071             | 547,436(10)                   | 3.48%  |
|                                                                            |                          |   |
| Bryant R. Rileyc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071             | 219,124 (11)                  | 1.40%  |
|                                                                            |                          |   |
| Timothy J. Shaheenc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071          | 200,000(12)                   | 1.29%  |
|                                                                            |                          |   |
| Scott S. Slaterc/o 550 S. Hope St., Suite 2850Los Angeles, CA  90071  |   109,000(13)            | *      |
|                                                                            |                          |   |
| Geoffrey Grantc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071              | 44,733(14)                    | *      |
|                                                                            |                          |   |
| Murray Hutchisonc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071            | 20,380(14)                    | *      |
|                                                                            |                          |   |
| Raymond J. Pacinic/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071           | 11,681(14)                    | *      |
|                                                                            |                          |   |
| Winston H. Hickoxc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071           | 10,152(14)                    | *      |
|                                                                            |                          |   |
| Stephen Courterc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071             | 7,653(14)                     | *      |
|                                                                            |                          |   |
| All Directors and officers as a group(nine individuals)                         | 1,170,159(10)(11)(12)(13)(14) | 7.24%  |

|   | *   | Represents less than one percent of the 15,452,756 outstanding shares of common stock of the Company as of April 16, 2013. |
|--------|---------------|----------------------------------------------------------------------------------------------------------------------------|

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| (1.) | Based on a Form 4 filed on November 14, 2012, with the SEC by LC Capital Master Fund Ltd., information provided by LC Capital Master Fund Ltd. and the Company’s corporate records. LC Capital Master Fund Ltd. and affiliates beneficially own a total of 3,635,000 shares of the Company’s common stock. Includes 50,000 shares issuable upon the exercise of warrants acquired in October 2012 as part of an amendment to our previous term loan, which was restructured in March 2013. Includes 2,680,000 shares of common stock issuable upon conversion of $21,574,000 in Convertible Bonds owned by LC Capital Master Fund Ltd. at a conversion rate of $8.05 per share. Under the terms of the Convertible Bond instruments, a holder of the Bonds may not convert the Bonds into common stock to the extent that after such conversion the holder would own more than 19.99% of the Company’s outstanding common stock, unless and until the Company shall have obtained stockholder approval to such conversion (the “Regulatory Cap”).  As a consequence of the Regulatory Cap, this amount does not include an additional 1,005,023 shares of common stock which would otherwise be issuable upon conversion of $8,090,435 in Convertible Bonds currently owned by LC Capital Master Fund Ltd. at a conversion rate of $8.05 per share, or 1,513,491 shares of common stock which would otherwise be issuable upon conversion of a maximum of an additional $12,183,606 in interest which may accrue in favor of LC Capital Master Fund Ltd. through the maturity date of the Convertible Bonds. These securities also may be deemed to be beneficially owned by LC Capital Partners, LP ("Partners"), LC Capital Advisors LLC ("Advisors"), Lampe Conway, LC Capital International LLC ("International"), Steven G. Lampe (“Lampe”) and Richard F. Conway ("Conway") by virtue of the following relationships: (i) Partners' beneficially owns one-third of the outstanding shares of the Master Fund; (ii) Advisors is the sole general partner of Partners; (iii) Lampe Conway acts as investment manager to Partners and the Master Fund pursuant to certain investment management agreements, and as a result of such agreements, Lampe Conway shares voting and dispositive power over the securities; (iv) International acts as investment advisor to the Master Fund pursuant to an investment advisory agreement and, as a result, International shares voting and dispositive power over the securities; and (v) Lampe and Conway act as the sole managing members of each of Advisors, Lampe Conway and International and are the natural persons with voting and dispositive power over these securities. Includes 145,508 shares held by Steven G. Lampe over which he has sole voting and dispositive power.  Master Fund disclaims beneficial ownership over these securities. LC Capital and/or its affiliates have designated Mr. Stephen E. Courter, a director of the Company, as their designee on our Board of Directors. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2.)   | Based upon a Schedule Form 13G/A filed on February 11, 2013 with the SEC and our corporate records of stock issuances, Altima Partners and related entities (Dominic Redfern and Mark Donegan) own an aggregate of 1,561,332 shares of the Company’s common stock. This figure includes 222,223 shares of stock issuable upon exercise of warrants acquired by affiliates of Altima Partners in our November 2011 private placement and 125,217 shares of common stock issuable upon conversion of $1,008,000 in Convertible Bonds owned by Altima Partners at a conversion rate of $8.05 per share as of April 16, 2013, plus 1,474 shares beneficially owned as a result of common stock issuable upon conversion of interest that will have accrued within 60 days of April 16, 2013. Altima Partners has shared voting and dispositive power as to 1,161,818 shares of the stock, including 222,223 shares of stock issuable upon the exercise of warrants acquired in our 2011 private placements.  Mr. Redfern and Mr. Donegan have shared voting and dispositive power as to 1,458,340 shares of the stock, including the 222,223 shares of stock issuable upon the exercise of warrants acquired in our 2011 private placements.  Mr. Donegan has sole voting and dispositive power as to 24,300 shares, over which Altima Partners and Mr. Redfern disclaim any beneficial ownership.  |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3.)   | Based upon a Schedule Form 13F filed on August 13, 2012 and a Schedule Form 13G/A filed on February 1, 2012 with the SEC, Zesiger Capital Group LLC owns an aggregate of 1,544,110 shares of the Company’s common stock and has sole voting power as to 1,135,785 shares and sole dispositive power as to 1,544,110 shares. Pursuant to the Schedule 13G/A, Zesiger Capital Group LLC disclaims beneficial ownership of such securities, which are held in discretionary accounts which Zesiger Capital Group LLC manages. No single client owns more than 5% of the securities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

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| (4)              | Based upon a Schedule Form 13G/A filed on February14, 2013 with the SEC and our corporate records of stock issuances, Water Asset Management LLC beneficially owns an aggregate of 1,524,548 shares of the Company’s common stock, including 1,237,890 shares presently outstanding and 159,777 shares of common stock issuable upon conversion of $1,286,208 in Convertible Bonds owned by Water Asset Management LLC at a conversion rate of $8.05 per share as of April 16, 2013, plus 1,881 shares beneficially owned as a result of common stock issuable upon conversion of interest that will have accrued within 60 days of April 16, 2013. Water Asset Management LLC has sole dispositive power over 1,237,890 of the shares and sole voting power over 620,331 of the shares. Water Asset Management LLC disclaims beneficial ownership of the shares except to the extent of its pecuniary interest therein.  |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5.)             | Includes 1,178,922 shares of common stock issuable upon conversion of $9,490,320 in Convertible Bonds owned or controlled by Nokomis Capital LLC at a conversion rate of $8.05 per share as of April 16, 2013, plus 13,880 shares beneficially owned as a result of common stock issuable upon conversion of interest that will have accrued within 60 days of April 16, 2013. Includes 74,114 shares managed by Nokomis Capital LLC as to which it has dispositive power but not voting power.  Nokomis Capital LLC disclaims beneficial ownership over these securities.                                                                                                                                                                                                                                                                                                                                            |
| (6.)             | Based upon a Schedule Form 13F filed on February 14, 2013, Odey Asset Management owns an aggregate of 1,000,000 shares of the Company’s stock and has sole voting and dispositive power as to the shares.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| (7.)   | Based upon a Schedule Form 13G/A filed on February 14, 2013, with the SEC and our corporate records of stock issuances, the listed related entities own an aggregate of 960,587 shares of the Company’s common stock.  Persistency Private Equity Limited and Camomille International Pte. Singapore have shared voting and dispositive power over the shares.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

| (8.)   | Based upon a Schedule 13G filed on February 7, 2013 with the SEC, Robeco Investment Management Inc. beneficially owns 869,138 shares of the Company’s common stock and has sole voting power to 561,383 shares of the stock and sole dispositive power to all 869,138 shares of the stock. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (9.)   | Based upon a Schedule 13G/A filed on February 8, 2012 with the SEC, Frost Gamma Investment Trust beneficially owns 788,829 shares of the Company’s common stock and has sole voting and dispositive power as to the stock. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (10.)   | Includes 100,000 shares issued under the 2009 Equity Incentive Plan, which Mr. Brackpool has a contractual agreement not to sell for a period of three years ending January 10, 2014. Includes 300,000 shares underlying presently exercisable options.                                                                                                                                                                                                                                                                                                                                                                                        |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (11.)   | Includes 219,130 shares of common stock issuable upon conversion of $1,764,000 in Convertible Bonds owned or controlled by Mr. Riley at a conversion rate of $8.05 per share as of April 16, 2013, plus 2,580 shares beneficially owned as a result of common stock issuable upon conversion of interest that will have accrued within 60 days of April 16, 2013. Mr. Riley disclaims beneficial ownership as to 31,303 of these shares, held in the name of Robert Antin Children Irrevocable Trust. Mr. Riley is not a beneficiary of this trust and as such disclaims any beneficial ownership over these shares, although he does have sole dispositive power. |

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| (12.)   | Includes 40,000 shares issued under the 2009 Equity Incentive Plan, which Mr. Shaheen has a contractual agreement not to sell for a period of three years ending January 10, 2014.  Also includes 100,000 shares underlying presently exercisable options.   |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (13.) (14.) | Includes 100,000 shares underlying presently exercisable options. Includes 2,759 shares awarded on June 30, 2012 to each independent director pursuant to the Company’s Outside Director Compensation Plan, which vested and were issued on January 31, 2013. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Plan Category                                            |   | Number of securities to be issued upon exercise of outstanding options, warrants and rights(a) |    |   | Weighted-average exercise price of outstanding options, warrants and rights(b) |   |   | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))(c) |   |
|----------------------------------------------------------|--------|------------------------------------------------------------------------------------------------|---------|--------|--------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|  Equity compensation plans approved by stockholders |   |                                                                                           | 547,500 | (1)    |                                                                           | $      | 11.82  |                                                                                                                                           |   |   | 34,718 | (2) |
|                                                     |   |                                                                                           |    |   |                                                                           |   |   |                                                                                                                                           |   |   |   |   |
| Equity compensation plans not approved by stockholders   |   |                                                                                           | 315,000 | (3)    |                                                                           | $      | 12.09  |                                                                                                                                           |   |   | - |   |
|                                                     |   |                                                                                           |    |   |                                                                           |   |   |                                                                                                                                           |   |   |   |   |
| Total                                                    |   |                                                                                           | 862,500 |   |                                                                           | $      | 11.92  |                                                                                                                                           |   |   | 34,718 |   |

| (1.)   | Represents 10,000 options outstanding under our 2007 Management Equity Incentive Plan and 537,500 options outstanding under our 2009 Equity Incentive Plan as of December 31, 2012. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|             |                                                                                                                                                                                |
| (2.)   | Represents 34,718 securities issuable under our 2009 Equity Incentive Plan as of December 31, 2012.                                                                                 |
|             |                                                                                                                                                                                |
| (3.)   | Represents 315,000 options outstanding under our 2003 Management Equity Incentive Plan as of December 31, 2012.                                                                     |

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ITEM 

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ITEM 

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ITEM 

| 31.1        | Certification of Scott Slater, Chief Executive Officer of Cadiz Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|-------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|

| 31.2        | Certification of Timothy J. Shaheen, Chief Financial Officer and Secretary of Cadiz Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|-------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

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SIGNATURES

| CADIZ INC. |
|------------|
|       |
| By:        |  /s/ Scott Slater  |
|       | Scott Slater |
|       | Chief Executive Officer and President |
|       |   |
| Date:      | April 29, 2013 |

| Name and Position                                   | Date           |
|-----------------------------------------------------|----------------|
|                                                |           |
| /s/ Scott Slater                                    | April 29, 2013 |
| Scott Slater, Chief Executive Officer and President |           |
| (Principal Executive Officer)                       |           |
|                                                |           |
| /s/ Timothy J. Shaheen                              | April 29, 2013 |
| Timothy J. Shaheen, Chief Financial Officer         |           |
|  (Principal Financial and Accounting Officer)  |           |
|                                                |           |
| /s/ Keith Brackpool                                 | April 29, 2013 |
| Keith Brackpool, Chairman                           |           |
|                                                |           |
| /s/ Stephen E. Courter                              | April 29, 2013 |
| Stephen E. Courter, Director                        |           |
|                                                |           |
| /s/ Geoffrey Grant                                  | April 29, 2013 |
| Geoffrey Grant, Director                            |           |
|                                                |           |
| /s/ Winston H. Hickox                               | April 29, 2013 |
| Winston H. Hickox, Director                         |           |
|                                                |           |
| /s/ Murray H. Hutchison                             | April 29, 2013 |
| Murray H. Hutchison, Director                       |           |
|                                                |           |
| /s/ Raymond J. Pacini                               | April 29, 2013 |
| Raymond J. Pacini, Director                         |           |
|                                                |           |
| /s/ Bryant R. Riley                                 | April 29, 2013 |
| Bryant R. Riley, Director                           |           |

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EXHIBIT 

| 31.1        | Certification of Scott Slater, Chief Executive Officer of Cadiz Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|-------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|

| 31.2        | Certification of Timothy J. Shaheen, Chief Financial Officer and Secretary of Cadiz Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|-------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

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